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Prepare the necessary journal entries on the books of Kelly Carpet Company to record the following transactions, assuming a perpetual inventory system: (a) Kelly purchased

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Prepare the necessary journal entries on the books of Kelly Carpet Company to record the following transactions, assuming a perpetual inventory system: (a) Kelly purchased $45,000 of merchandise on account, terms 2/10, n/30. (b) Returned $3,000 of damaged merchandise for credit. (c) Paid for the merchandise purchased within 10 days

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